Vulnerable are targeted in loan shark crackdown

Sid The Shark is coming to Wigan

SOME of the borough’s hardest-to-reach loan shark victims are to be targeted in a month-long campaign.

The England Illegal Money Lending Team is teaming up with Wigan Council’s trading standards and licensing section to tackle rogue lenders throughout July.

The campaign, supported by the homeless charity The Brick and Unify Credit Union, will focus on helping those who live in private rented accommodation, reminding them that they should never use a loan shark to pay rent or a deposit. It is a issue that is feared to be hidden and often goes unreported by victims.

It will also inform them that support is available from the council and charities if they are struggling to make ends meet, by providing bonds or deposits.

The campaign will see a pop-up stand in Wigan town centre next Monday and Tuesday, where the Illegal Money Leading team will be providing information to residents about the dangers of using loan sharks. Their mascot Sid the Shark will be persuading people to complete a short quiz about loan sharks, which will see participants enter a free draw with a £50 voucher prize.

There will also be a mosaic on display, created by service users of The Brick after they received training on the risks of using loan sharks.

There will also be posters on display in local letting agents, hostels and shared accommodation homes, and trading standards will be giving out leaflets and information to residents throughout the month as well.

Loan sharks operate illegally, without the correct permissions from the Financial Conduct Authority and rarely give paperwork, keeping borrowers in the dark as to how much they are paying back. Some will even take items such as passports as security or even bank cards with the PIN in order to withdraw directly from borrowers’ accounts, sometimes under the threat of violence.

Coun Kevin Anderson, Wigan Council cabinet member for environment, said: “Illegal money lending is a crime which we continue to face across the country.

“With bills that continue to rise, and the access to credit remains difficult, it is important to make our residents aware of the dangers of signing up with one of these unscrupulous lenders.

“Loan sharks often prey on the most vulnerable members of our community and it usually leads to them getting into even greater debt and financial difficulty as well as the other problems which can follow from this situation.

“I recommend anyone who is a victim to report the matter as soon as possible.”

Tony Quigley, head of the England Illegal Money Lending Team, said “During the month our aim as a national team is to make a difference locally.

“Whether a community is urban, inner city or rural we understand that loan sharks lend to those in private, social and council tenancies and indeed home owners.

“Our aim is to tackle any current illegal money lending issues whilst sending a preventative message to all – loan sharks are not a safe or cheap way to borrow money, even if you’re doing so to move home.”